Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Nubuwwat symposium starts with rejection of suicide bombing, terrorism

A three-day international symposium launched on Sunday in İstanbul with the theme of nubuwwat (prophethood) has started with a message that a true believer of Islam cannot become a suicide bomber. Speaking at the opening ceremony of the 10th edition of the symposium focusing on the teachings of prominent Islamic scholar Bediüzzaman Said Nursi, Deputy […]

New Level of Witch Hunt: Relatives are Targeted in Turkey

On July 26, Turkish police stormed the house of Muhammet Cakir, a lawyer wanted for arrest on coup charges. Failing to find the lawyer at home, they detained his 86-year-old mother to force her son to surrender. She has been kept as hostage since.

Bishop Chane: Gülen one of the greatest scholars

Eighth Bishop of Washington in the Episcopal Church John Bryson Chane has said Turkish scholar Fethullah Gülen is probably one of the greatest scholars and religious people in today’s world. Speaking at a Jan. 20 meeting of the Rumi Forum, a think tank established by Turks living in Washington, D.C., to foster intercultural dialogue, the […]

Judiciary acts in line with legally unfounded police report to describe Hizmet as terrorist

A National Police Department report accusing the Gülen movement of being a terrorist organization without any solid evidence is being treated as a document not to be questioned by the judiciary, which apparently views it as an “instruction” by higher-ups, recent investigations have indicated.

After Reunion: A Quiet Transformation Within the Hizmet Movement

Following the passing of the late Fethullah Gülen, the U.S. leg of the commemorative tour “After Reunion” concluded last weekend with a moving finale at Felician University’s Breslin Center for the Performing Arts in New Jersey. The 1,500-seat hall was filled to capacity. On the surface, it was a memorial; beneath it, a quiet transformation within the Hizmet […]

Turkish schools key to success in Africa

It is very pleasing to hear that, just as in Uganda, a prime minister mentions Turkish schools out of the blue and these schools have strong ties to the highest profile officials, as well as to civil society groups and even members of minority religions in those countries. Deputy Prime Minister and State Minister Bülent […]

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Radio Sweden exposes Turkish Gov’t tracks down regime critics in Sweden, threatens to take wives as hostages

Hizmet Movement Declares Core Values with Unified Voice

Turkey post-coup purges convulse society

TİB conspired to libel Hizmet, tampered with system logs

Kyrgyz Culture Minister: Turkish schools are of golden value to us

Kimse Yok Mu, the prominent outlet for international aid

Turkish ambassador draws ire as she implies Gülen-affiliated schools in Macedonia raise terrorists

Copyright 2026 Hizmet News